Bitcoin’s adoption has been on the rise this year, and the popularity for the whole crypto space has been on the rise despite the global crisis in the middle of which we are.
More people see Bitcoin as a safe haven, and more investors are pouring money in the market.
Bitcoin is more than a hedge against inflation
It’s been just reported that MicroStrategy chief executive and Bitcoin (BTC) adopter Michael Saylor said that buying BTC now is like investing in today’s multi-trillion tech companies 10 years ago.
In the November issue of Block Journal, the head of MicroStrategy addresses the fact that Bitcoin is a store of wealth option.
Saylor said that Bitcoin is more than just a hedge against asset inflation – he said that it served as the first true and possibly “dominant digital monetary network.”
He also made sure to link crypto’s use case to one of other revolutionary digital service giants.
“And when I say digital monetary network I put it on the shelf next to Google being the first digital search network, YouTube being the first digital video network, Apple being the first digital mobile network, and Facebook being the first digital social network. It’s a pretty powerful thing,” he said as cited by the Daily Hodl.
Saylor also pointed out the fact that Bitcoin’s store-of-value properties beat those of gold’s because the crypto asset is “harder, smarter, faster, and stronger” compared to physical gold.
Buying now is getting in early
The MicroStrategy CEO also highlighted that even considering Bitcoin’s 2020 yearly gains, buying now means getting in early.
“It’s got an upside that feels like buying Apple, Facebook, Google, or Amazon a decade ago, where it could go from here is pretty interesting.”
He was also asked whether MicroStrategy had a stop-loss on their BTC buy and here’s what he had to say about this:
“We bought it to hold forever. I mean, as Warren Buffett would say the ideal holding period on an asset is forever… If we thought that it wasn’t a good treasury asset then we wouldn’t have bought it at all.”